This disclosure relates generally to fraud monitoring of payment card transactions on a payment card transaction network and, more particularly, to systems and methods for analyzing fraud data generated by fraud detection systems used for detecting fraudulent network events.
Payment processing networks process numerous payment transactions every day that are initiated by cardholders of payment cards. Most of these transactions are valid transactions. However, at least some of these transactions are fraudulent. Payment transaction processors, such as payment networks and issuing banks, may monitor payment card transactions for signs of fraudulent activity. At least some known fraud detection systems monitor payment transactions one payment transaction at a time to determine whether the transaction is potentially fraudulent. However, none of the known fraud detection systems analyze fraud detection data to determine patterns or trends associated with fraudulent transactions. Further, fraud detection systems may fail in some respects, and such failures may go unnoticed if the fraud monitoring system is not, itself, monitored.